Liberalisation, Privatisation and Globalisation – An Appraisal Class 12 Handwritten Notes


 Liberalisation, Privatisation and Globalisation – An Appraisal Class 12 Handwritten Notes PDFs Download

I. Introduction
   A. Liberalisation, Privatisation, and Globalisation (LPG) are economic policies that have had a significant impact on the global economy.
   B. LPG refers to the opening up of markets, transfer of ownership from the public to the private sector, and increasing interconnectedness of economies.

II. Liberalisation
   A. Liberalisation involves removing barriers and restrictions in various economic sectors.
   B. It was adopted as a response to economic inefficiencies and protectionism.
   C. Key components include trade liberalisation, financial market deregulation, privatisation, and promoting competition.
   D. Positive effects include increased efficiency, consumer choice, and technological advancements.
   E. Negative consequences include income inequality, financial volatility, and environmental concerns.

III. Privatisation
   A. Privatisation involves transferring state-owned enterprises to private ownership.
   B. It aims to improve efficiency, attract investment, and enhance service quality.
   C. Methods of privatisation include divestiture, stock offerings, and public-private partnerships (PPPs).
   D. Benefits include increased productivity, investment, and customer satisfaction.
   E. Challenges include job losses, lack of competition, and social welfare implications.
IV. Globalisation
   A. Globalisation refers to increasing interconnectedness and integration of economies worldwide.
   B. Factors contributing to globalisation include advancements in transportation, communication, and trade agreements.
   C. Positive impacts include expanded trade, new business opportunities, and cultural exchange.
   D. Negative effects include threats to domestic industries, economic dependency, and environmental degradation.

V. Appraisal of LPG
   A. Assessing the overall impact of LPG policies on the economy.
   B. Evaluating the balance between benefits and drawbacks.
   C. Examining the role of governments in managing LPG policies effectively.
   D. Providing policy recommendations for optimizing benefits and mitigating negative consequences.
VI. Conclusion
   A. Summarizing the key points discussed, including LPG's definition and impact.
   B. Expressing final thoughts on the future of liberalisation, privatisation, and globalisation in the context of ongoing economic developments.


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